Financial News: Russian Factory Growth Improves In January

Russian Factory Growth Improves In January

02/03/2025 - 04:12:00 (RTTNews)

(RTTNews) - Russia's manufacturing sector activity expanded at the quickest pace in six months amid faster rises in output and new orders on the back of strong domestic demand, survey results from S&P Global showed on Monday.

The manufacturing purchasing managers' index, or PMI, rose to 53.1 in January from 50.8 in December. A reading above 50 indicates expansion.

Output grew at the steepest pace since June 2024, led by greater demand conditions and a further upturn in new orders, which logged the sharpest upturn in seven months.

Stronger demand conditions at the start of the year were domestically focused as export orders fell for the first time in six months.

On the price front, input price inflation slowed to a 3-month low but remained elevated in January amid higher supplier, material, fuel, and transportation costs. Meanwhile, selling price inflation quickened to the second-fastest since October 2023.

Rising new orders prompted firms to raise their workforce numbers, though the pace of job creation was only marginal.

Supply chain difficulties persisted in the Russian manufacturing sector as logistics and transportation delays caused a further round of lengthening lead times. Despite delays, stocks of purchases increased amid greater input buying in order to build safety stocks.

Looking ahead, business confidence among manufacturers strengthened in January, stemming from planned investment in new machinery, product development, and hopes of greater customer demand.

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